Health Insurance 101: if you think you are paying too much, you probably are!
If you are an international student, enrolling in a health insurance is as important as selecting the right classes for your major. Yet, with so many health insurance providers out there, it can be hard to decide on which one to choose, especially as the premium for health insurance becomes more costly.
To most first time insurance buyers, they are only interested in two things, the premium and the coverage. Many international students have very little knowledge when it comes to health insurance, and they often think the university’s plan is their only choice when it comes to selecting a plan. However, there are companies such as ISO Student Health Insurance that provides comparable plans with an affordable premium that’s only a portion of the school’s price.
Domestic Students vs. International Students
According to a recent Wall Street Journal article, “A Cure for Student Health Woes?” the average cost of student insurance plans is increasing on an annual basis. The annual cost of health insurance in public universities was $2,031 for the 2012-13 school year, a 9% increase from a year earlier. In private universities the cost of a similar insurance plan was $2,229.
Under the new Obama health care plan (ACA), American students have a more affordable alternative for their insurance. They can choose to continue being insured under their parents until age 26 or under their employee insurance if they have a job.
International students, on the other hand, may not have this choice. Some international students are automatically enrolled in the school’s plan and often do not have the option to waive out of it. Given the face that international student neither have parents who are insured in the U.S. or have a valid working status, many will be stuck with a huge insurance bill.
How to select the most affordable insurance plan?
In the U.S., in order to be considered a full time international student in school, most universities require their students to enroll in a health insurance plan. Some schools are going even mandating the purchase of the school’s own (and often more expensive) insurance plans.
As a result, ISO aims to create comparative plans that will not only meet the school’s requirements but also help international students to take a huge chunk of financial burden off of their back. For most foreign students, saving a few hundred dollars or more on their health insurance can have a huge impact on their lives and the lives of their family members abroad.
Living thousands of miles away from home can be a scary thing, especially when you don’t have a safety net to fall back on. Therefore, it is essential to choose an insurance that will both meet the requirements from your school and not put a hole in your wallet. There are many comparable plans out there and ISO Student Health Insurance is already ready to assist international students in finding the most affordable plan!